RAE, the Regulatory Authority for Energy, has finalized its certification endorsing the power grid operator IPTO’s new equity make-up following an agreement with China’s SGCC (State Grid Corporation of China) that provides the latter a 24 percent stake in IPTO, a main power utility PPC subsidiary, energypress sources have informed.
Prior to this development, the European Commission’s Directorate-General for Energy had issued its own endorsement with certain observations intact. These conditions have been incorporated into RAE’s text, expected to be announced within the next few days.
Based on the conditions set, IPTO will be subject to constant monitoring for any prospective equity make-up changes, be they the result of moves by Greek or foreign investors.
IPTO’s certification will need to undergo reexamination should any Chinese state-controlled company enter Greece’s electricity market, as a means of checking on whether EU regulations are being adhered to, according to the conditions.
SGCC has not been granted veto rights for IPTO administrative matters pertaining to Greek energy supply security.